The S&P 500 was down 55 points, or 1.9 percent, at 2,824-on pace for its worst day since June. All 30 of the Dow's stocks were in the red and it fell below 26,000 total points for the first time in a month, CNN reported.

U.S. stocks notched solid gains in the third quarter as investors brushed aside worries about trade wars and focused on strong corporate earnings and solid USA economic data. (NASDAQ:NFLX) were among the hardest hit stocks of the past 48 hours, tumbling 7.5 percent and 9 percent, respectively.

Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said the stocks have become more volatile in the last few months because investors have concerns about their future profitability. The Dow's percentage decline doesn't crack the top percentage declines. The FAANGs, spread over three sectors, were down between 1.4 percent and 5.4 percent.

All 11 sectors in the S&P 500 are lower, with banks and energy stocks the hardest hit.

The dollar fell to 111.94 yen from 112.59 yen, and the euro rose to $1.1594 from $1.1525.

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